by Thomas Piketty translated by Arthur Goldhammer ‧ RELEASE DATE: Aug. 1, 2015
Not for the numerically faint of heart, and those who are numerate may argue at points—just as Piketty’s masterwork has...
In a work that is aligned with but antecedent to his grand synthesis, Capital in the Twenty-First Century (2013), French economist Piketty examines the structural causes of inequality.
Capital and income are intertwined, of course, and unevenly distributed. Just how unevenly has been a subject of much economic-historical work lately. In this book, published in 1997 and updated here and there since, Piketty observes that he does not “take fully into account the results of the past fifteen years of international research on the historical dynamics of inequality,” but the eternal verities hold. As the author writes, in a moment worthy of Marx, “the question of inequality and redistribution is central to political conflict.” Redistribute broadly and equitably, and you have the possibility of social justice; redistribute into the hands of the wealthy, and you risk turmoil and revolution when the have-nots catch on to what’s going on. Piketty’s argument is more descriptive than prescriptive; he notes that capital income, for instance, is subject to more unequal distribution than wage income, which makes good sense inasmuch as the rich tend to live on capital gains instead of salaries. The writing tends to be white paper–ish and technical (“in the United States…the P90/P10 ratio for income rose from 4.9 to 5.9 between 1979 and 1986”), and although training in economics isn’t strictly necessary in order to follow the author’s argument, it certainly wouldn’t hurt in tracking such concepts as the relative elasticity or inelasticity of capital and, particularly, human capital. The latter contributes strongly to Piketty’s case, which ends with a consideration of how Keynesian stimuli can influence long-term redistribution, if at all.
Not for the numerically faint of heart, and those who are numerate may argue at points—just as Piketty’s masterwork has inspired controversy. Still, a discussion worth having and a book worth reading.Pub Date: Aug. 1, 2015
ISBN: 978-0-674-50480-6
Page Count: 146
Publisher: Belknap/Harvard Univ.
Review Posted Online: May 19, 2015
Kirkus Reviews Issue: June 1, 2015
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by Enrico Moretti ‧ RELEASE DATE: May 5, 2012
A welcome contribution from a newcomer who provides both a different view and balance in addressing one of the country's...
A fresh, provocative analysis of the debate on education and employment.
Up-and-coming economist Moretti (Economics/Univ. of California, Berkeley) takes issue with the “[w]idespread misconception…that the problem of inequality in the United States is all about the gap between the top one percent and the remaining 99 percent.” The most important aspect of inequality today, he writes, is the widening gap between the 45 million workers with college degrees and the 80 million without—a difference he claims affects every area of peoples' lives. The college-educated part of the population underpins the growth of America's economy of innovation in life sciences, information technology, media and other areas of globally leading research work. Moretti studies the relationship among geographic concentration, innovation and workplace education levels to identify the direct and indirect benefits. He shows that this clustering favors the promotion of self-feeding processes of growth, directly affecting wage levels, both in the innovative industries as well as the sectors that service them. Indirect benefits also accrue from knowledge and other spillovers, which accompany clustering in innovation hubs. Moretti presents research-based evidence supporting his view that the public and private economic benefits of education and research are such that increased federal subsidies would more than pay for themselves. The author fears the development of geographic segregation and Balkanization along education lines if these issues of long-term economic benefits are left inadequately addressed.
A welcome contribution from a newcomer who provides both a different view and balance in addressing one of the country's more profound problems.Pub Date: May 5, 2012
ISBN: 978-0-547-75011-8
Page Count: 304
Publisher: Houghton Mifflin Harcourt
Review Posted Online: April 3, 2012
Kirkus Reviews Issue: April 15, 2012
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by Eric Schmidt ; Jonathan Rosenberg with Alan Eagle ‧ RELEASE DATE: Sept. 23, 2014
An informative and creatively multilayered Google guidebook from the businessman’s perspective.
Two distinguished technology executives share the methodology behind what made Google a global business leader.
Former Google CEO Schmidt (co-author: The New Digital Age: Reshaping the Future of People, Nations and Business, 2013) and former senior vice president of products Rosenberg share accumulated wisdom and business acumen from their early careers in technology, then later as management at the Internet search giant. Though little is particularly revelatory or unexpected, the companywide processes that have made Google a household name remain timely and relevant within today’s digitized culture. After several months at Google, the authors found it necessary to retool their management strategies by emphasizing employee culture, codifying company values, and rethinking the way staff is internally positioned in order to best compliment their efforts and potential. Their text places “Googlers” front and center as they adopted the business systems first implemented by Google founders Larry Page and Sergey Brin, who stressed the importance of company-wide open communication. Schmidt and Rosenberg discuss the value of technological insights, Google’s effective “growth mindset” hiring practices, staff meeting maximization, email tips, and the company’s effective solutions to branding competition and product development complications. They also offer a condensed, two-page strategy checklist that serves as an apt blueprint for managers. At times, statements leak into self-congratulatory territory, as when Schmidt and Rosenberg insinuate that a majority of business plans are flawed and that the Google model is superior. Analogies focused on corporate retention and methods of maximizing Google’s historically impressive culture of “smart creatives” reflect the firm’s legacy of spinning intellect and creativity into Internet gold. The authors also demarcate legendary application missteps like “Wave” and “Buzz” while applauding the independent thinkers responsible for catapulting the company into the upper echelons of technological innovation.
An informative and creatively multilayered Google guidebook from the businessman’s perspective.Pub Date: Sept. 23, 2014
ISBN: 978-1455582341
Page Count: 320
Publisher: Business Plus/Grand Central
Review Posted Online: July 21, 2014
Kirkus Reviews Issue: Aug. 15, 2014
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